Auto Suggestions are available once you type at least 3 letters. Use up arrow (for mozilla firefox browser alt+up arrow) and down arrow (for mozilla firefox browser alt+down arrow) to review and enter to select.

Overview

The authors present a new formal framework for finding the long-run competitive market equilibrium through short-run equilibria by exploiting the operating policies and plant valuations. This “short-run approach” develops ideas of Boiteux and Koopmans. Applied to the peak-load pricing of electricity generated by thermal, hydro and pumped-storage plants, it gives a sound and practical method of valuing the fixed assetsin this case, the river flows and the geological sites suitable for reservoirs. Its main mathematical basis is the producer’s short-run profit maximization programme and its dual; their solutions have relatively simple forms that can greatly ease the fixed-point problem of solving for the general equilibrium. Since the optimal values (profit and cost functions) are usually nondifferentiablethis is so when there are joint costs of production such as capacity constraintsnonsmooth calculus is employed to resolve long-standing discrepancies between textbook theory and industrial reality by giving subdifferential extensions of basic results of microeconomics, including the Wong-Viner Envelope Theorem.

About the Author

Anthony Horsley (1939--2006) was a British mathematical economist and a nuclear physicist who in the 1960s worked for the U.K. Atomic Energy Authority (becoming then its youngest ever Senior Scientific Officer) and for the Council for Scientific Policy. Later, devoting himself to academic research and teaching, he worked on the theory and applications of competitive equilibrium at the University of Sussex, Oxford University and, from 1979 until retirement and untimely death, the London School of Economics. A Renaissance mind, he also had a keen interest in literature, history and politics. He received a Ph. D. in Mathematical Physics from the University of Birmingham and a D. Phil. in Economics from the University of Oxford.

Andrew J. Wrobel (b. 1955) is a Polish-born mathematical economist. He has worked at the Institute of Computer Science in Warsaw and, as a Senior Research Fellow, at the London School of Economics and the Catholic University of Brabant in Tilburg. His main research, joint with Anthony Horsley, is on the theory of competitive equilibrium and its applications to the electricity supply industry. Educated in Warsaw, and in Bonn and London on postgraduate grants from the Studienstiftung des deutschen Volkes and the LSE, he holds an M.A. in Mathematics from the University of Warsaw and a Ph.D. in Economics from the University of London.

This book gathers international and national reports from across the globe on key questions in
the field of antitrust and intellectual property.The first part discusses the application of competition law in the pharmaceutical sector, which continues to be a focus ...

This book explains the usage and application of Molecular Quantum Dynamics, the methodology where both
the electrons and the nuclei in a molecule are treated with quantum mechanical calculations. This volume of Lecture Notes in Chemistry addresses graduate students and ...

A comprehensive development of interpolating control, this monograph demonstrates the reduced computational complexity of a
ground-breaking technique compared with the established model predictive control. The text deals with the regulation problem for linear, time-invariant, discrete-time uncertain dynamical ...

This practically-oriented textbook provides a clear introduction to the different component parts of an operating
system and how these work together. The easy-to-follow text covers the bootloader, kernel, filesystem, shared libraries, start-up scripts, configuration files and system utilities. The procedure ...

This book focuses on a group of new materials labeled graphene oxides. It provides a
comprehensive overview of graphene oxide-based nanomaterials in terms of their synthesis, structures, properties, and extensive applications in catalysis, separation, filtration, energy storage and conversion. The ...

This book gives an overview of the physics of Heusler compounds ranging from fundamental properties
of these alloys to their applications. Especially Heusler compounds as half-metallic ferromagnetic and topological insulators are important in condensed matter science due to their potential ...

This book is a remarkable collection of chapters covering a wider range of topics, including
unsupervised text mining, anomaly and Intrusion Detection, Self-reconfiguring Robotics, application of Fuzzy Logic to development aid, Design and Optimization, Context-Aware Reasoning, DNA Sequence Assembly and ...

With an emphasis on exploring measurable aspects of ancient narratives, Maths Meets Myths sets out
to investigate age-old material with new techniques. This book collects, for the first time, novel quantitative approaches to studying sources from the past, such as ...